Eris Specialised Retail - Positioned to help the Retail Sector Weather Storms
Eris Specialised Retail leasing focuses on maximising on investor and retailer objectives to create a vibrant retail experience that meets the needs of tenants and shoppers. Wilmarie Nienaber, Leasing Manager - Retail Development at Eris Property Group, explains that this means combining strategic thinking with the right location and specialised tenant mix to create the ultimate destination for customers, ensuring success for all parties involved.
As the South African retail sector grapples with recession, COVID-19 and shifting consumer purchasing behaviours, Nienaber says Eris Specialist Retail is constantly looking for ways to assist clients to adapt. "We've always focused on applying emerging trends in lifestyle and shopping centres, being forward thinking and establishing what is best for our retailers and landlords, focusing on each individual's strength and working in synergy."
Nienaber says that her department works to build long-term, sustainable relationships with tenants and retailers, taking their different business operating models into consideration. "We still have relationship with tenants post placement and commencement of trading, to ensure a successful sustainable relationship between each tenant and landlord," she says.
Eris Specialist Retail's service offering includes leasing for existing shopping centres and new retail developments; feasibility studies and research on the future of retail and mixed-use developments; and asset advisory services for existing portfolios. "We also maintain a wide network of retail contacts enabling us to capitalise on these for the benefit of individual property owners," says Nienaber.
She believes that in the current challenging climate, it's critical for retailers to innovate and to meet changing consumer demands and preferences. "The way people use stores is changing," she says. "People might want to browse appliances in-store, but then take the final purchasing decision at home and order online for delivery. Or they might want to shop for groceries online, but collect in-store, with a click-and-collect option. Retailers can't afford to rely on traditional shopping methodology alone - they have to adapt their offering to give customers a seamless and vibrant omni-channel experience. This will mean changing the way store fronts are designed. For example, we've seen a shift towards artisanal products and stores where consumers are able to engage with the people creating those products to learn more about the process involved."
Retailers need to be on top of these changes. For example, online retail has recently received a massive boost as South Africa undertook a national lockdown to help prevent the spread of COVID-19. Thousands of people suddenly turned to online shopping for their essential products. This trend may never fully reverse. Retailers will need to think creatively to stay relevant.
"South Africans retailers always make a plan," says Nienaber. "Paradigms need to shift. Rather than focusing on how bad things are, we need to focus on how we can connect with our future clients and on how we can combine the online and offline shopping experiences."
As an example of the innovation of local businesspeople in these times, she cites one of Eris's tenants at The MARC- Saint Restaurant. Head chef David Higgs has started selling copies of his book, Mile8, with all proceeds going towards a staff trust fund set up to support the restaurant team during lockdown.
Nienaber says Eris is also looking for ways to help connect clients whose businesses can work well together, as well as meeting changing tenant needs. For example, instead of medical professionals needing to secure their own suites and set up a practice from scratch, they can now access flexible space within Eris's first medical centre offering in The MARC, in Sandton. "This works on a similar idea to flexible office spaces," explains Nienaber. "We have created a space that's well suited to healthcare professionals in the heart of Sandton, including all the backbone infrastructure. Medical professionals can access a space that meets their needs, and that can change over time as required."
It's a challenging time, but it also offers opportunities for those who are willing to change their mind-set, Nienaber says. "South Africans are resilient, and we are enterprising by nature, so I'm excited to see the innovation that will come out of this and to be a part of that."
For more information or to find out how you can partner with Eris Specialised Retail, contact Wilmarie Nienaber on 011 775 1000 or wnienaber@eris.co.za
